A complete way to nail 'Source of fund' dilemma!

[FaizanAli46]

I have received ITA under pnp (Ontario).

Now I have a question.
When I submitted my application for OINP. Ontario required funds of $14853, I had $18000 in my account. I withdrew the funds after applying for OINP as needed them for personal use. now that I have received ITA and now I will deposit the funds back into my account and I will take declaration from my parents that these funds are for my personal use only. Will there be a problem in the process from CIC, will these pose an objection for the CIC that I withdrew the funds required for OINP application?

The documents I have prepared:
1- Stamped paper Gift Deed
2- Stamped Paper Affidavit
3- Bank statement of my mother showing transaction that she transfer money to my account with bank stamp.
4- My Bank statement showing transaction receiving money from my mother with bank statement.
5- Mine and my parents' Net worth certificates.

 

[saikris12]

Hi All,

Thank you once again for helping out each other on this forum. I am not sure what I would have done without this forum. I am going to submit my application for OOPNP in the next couple of days. I have all the documents ready and I just have a few questions.

1. I have my employment certificates for my current and previous jobs on company letter head. Should I submit the originals or xerox copies would suffice?

2. Should I get any documents attested/notarized?

3. I have a gift deed from my father as part of my application. This is a notarized affidavit. Should I submit a copy of this or the original one.

4. Also, Can I just print a blank form of the nomination application and fill it by hand. I have a long name and It does not allow me to enter the whole name.

The reason I am asking this is that we have to submit the same documents again once we receive ITA after the nomination right. So I am a bit confused.

Thanks in advance.

 

[KingBing]

I have two scnerios..

1. My wife have Gold jewellery.. If we sale it and submit amount in my wife's account as she is principle applicant would it be suffice to show as proof of fund? What kind of documentation is required for this? In my country, jewellary purchase and sale receipt is not computerized, Just on a letter head of jeweller, if I submit sale receipt with translation of it, would it be okay?

2. I have Government prize bonds which is equavelent to Canadian 19000 dollars, I can sale those to show proof of funds, but problem is I bought these bonds from local dealers and they did not provide any sale receipt or purchase receipt, if I do sale those bonds in bank they will not provide any receipt as those prize bonds are like currency if you hold it, it is your property. What documents do I have to produce? Can I scan all those prize bonds only?

3. Last option is if I sale my above 2 assets and get self decleration from my parents that those funds are gift mony.

What would you guys suggest?

Kindly help

 

[jyothi999]

Hi Sir,

I am happy to share that I got ITA in the last draw.I already have sought answers for my queries by you in this thread and preparing accordingly.

Please tell me where to upload all these affidavits and gift deeds(Along with POF in funds button or along with LOE in additional docs button)?

I shall remain grateful to you for all the help.

Thank you.

 

[Bella5]

Hi. If you have school loans instead of a mortgage or car note where those things can be sold and converted to cash. Do you think that will be held against you?

 

[Liara]

Hello!
So, my proof of funds must look like this:
first - list of ALL my bank accounts, showing 6-months history (even though only one will be used to show funds);
then - other documents, such as gift affidavit, apartment cost estimate, etc.

Right?

BTW - do you have to have the bank's seal (which is the only thing that's not in English) translated if the rest of the bank's document is in English?

 

[shashidhar_sm]

Hi Anuj and others, I have drafted a letter that my wife would be signing to show that the funds in her bank account are for our EE application and she is OK with us using it for the EE OINP program. Does it look fine to you?


<Date>

To Whom It May Concern
I, <spouse's name>, wife of <my name here> hereby declare that the monies in my bank account (details given below) will used for our Express Entry visa application in which my husband, Mr. <me> is the principal applicant.

The sum amounting to Indian Rupees _______ in my bank account is completely ours, and has been transferred by me to Mr. <me>'s account ________ on ______. This will be used for our family’s settlement purposes in Ontario, Canada.

Transaction Information:
Bank Details from which Indian Rupees ________ was transferred to Mr. <me>'s account:
Bank Name:
Branch:
Amount Transferred:
Date:
Transaction IDs:




________________
<Spouse's name>
Phone: (Cell) +91 1111 111 111


Appreciate your inputs.

And my bank, Citibank, would be giving me a printed statement with the bank's logo on it. Will that do or should I get it stamped by them?


Thanks guys

 

[alrr3077]

Hello,

I have a question related to a express entry process, I got into the platform and submitted my profile to validate how many points my qualifications and general status would get. I scored 432 points, my plan was to start looking for a job offer on the job bank platform cause I didn't expect to get an invitation since the pool is drawing candidates that have scored at least 450 to 480 points (average). My situation is that I recently received a PT notification of interest from Ontario to OINP for nomination under the Human Capital Priorities Stream (which I didn’t expect at all), I wasn’t awared of this option and now I’m trying to meet the requirements so I can get the chance to apply.

My main issue with this process is the settlement funds required to demonstrate I have the amount of money needed to settle for a period of time in Canada. At the moment I don’t have the amount of money saved on one of my bank accounts ($11,931 canadian dollars) but my brother has it as a result of a loan he recently got (he got the money transferred as liquid funds to his bank account recently and it’s totally disposable for any desired purpose). The thing is he spontaneously offered to delay his plans with this money and give it to me as a gift so I can take this opportunity an migrate to Canada, therefore this money won’t need to be returned to him , ever, although he’s going to be paying installments from the loan by himself (he is totally fine with it and able to do it).

The questions is, if I suddenly deposit this sum of money on my bank account for POF and get a gift deed, Affidavit, net-worth certificate and LOE with my brother stating that from that moment on that money it’s going to be mine and wont have to return it and he’s not affected negatively by giving it away… would that be valid enough to submit my application?. What worries me is the case that they wouldn’t allow me to use money that comes form a loan even thought its not mine and I won’t have to pay it.

I don’t want to incur in a case of misrepresentation as its not my intention, and I would ask my brother to specify on the gift deed and affidavit that the source of the money is a loan under his name (not past savings), that he’s going to use that money to help me and that he doesn’t want it in return. This way I won’t be hiding any information at all.

Please let me know if this is a good way of tackling my situation and any further suggestion is more than welcome.

 

[alrr3077]

Hi vivekskumar8544,

1,2. Funds cannot be originate from loans. So, this FD cannot be used.
3. Please check the format of gift deed, it will clearly say that your father has given the funds form his past savings. But your route will make this statement a fallacy, isn't it? It would be clear case of misinterpretation. CIC deals with cases like yours and mine daily. They can understand and catch hold of such cases.

I would suggest you to follow a safe route rather than what you said.

Hello,

I have a question related to a express entry process, I got into the platform and submitted my profile to validate how many points my qualifications and general status would get. I scored 432 points, my plan was to start looking for a job offer on the job bank platform cause I didn't expect to get an invitation since the pool is drawing candidates that have scored at least 450 to 480 points (average). My situation is that I recently received a PT notification of interest from Ontario to OINP for nomination under the Human Capital Priorities Stream (which I didn’t expect at all), I wasn’t awared of this option and now I’m trying to meet the requirements so I can get the chance to apply.

My main issue with this process is the settlement funds required to demonstrate I have the amount of money needed to settle for a period of time in Canada. At the moment I don’t have the amount of money saved on one of my bank accounts ($11,931 canadian dollars) but my brother has it as a result of a loan he recently got (he got the money transferred as liquid funds to his bank account recently and it’s totally disposable for any desired purpose). The thing is he spontaneously offered to delay his plans with this money and give it to me as a gift so I can take this opportunity an migrate to Canada, therefore this money won’t need to be returned to him , ever, although he’s going to be paying installments from the loan by himself (he is totally fine with it and able to do it).

The questions is, if I suddenly deposit this sum of money on my bank account for POF and get a gift deed, Affidavit, net-worth certificate and LOE with my brother stating that from that moment on that money it’s going to be mine and wont have to return it and he’s not affected negatively by giving it away… would that be valid enough to submit my application?. What worries me is the case that they wouldn’t allow me to use money that comes form a loan even thought its not mine and I won’t have to pay it.

I don’t want to incur in a case of misrepresentation as its not my intention, and I would ask my brother to specify on the gift deed and affidavit that the source of the money is a loan under his name (not past savings), that he’s going to use that money to help me and that he doesn’t want it in return. This way I won’t be hiding any information at all.

Please let me know if this is a good way of tackling my situation and any further suggestion is more than welcome.

 

[Jkal]

If you mention that its a loan in the deed then you are for sure gonna screw it.

 

[nedved13]

Hi , what's an affidavit please ?

 

[FaizanAli46]

I have invested money in a construction company, to prove it is an investment what documents do I have to produce? I have withdraw money from that company and the cheque is in my name from that company with company name.. Is it suffice if I get written statement from company's letterhead that I did invest in that company from xxx period to xxx period?

 

[abc_27]

If I sell an appartment and deposit those money in a joint account (the appartment was on husband's name alone) - can it work?

 

[himohan_u]

Hello All,

Can seniors help me with this situation ?

I have my salary credited in a private bank(HDFC) and I have very less balance in the same. But I have a 2 FD in a nationalized bank(State Bank of India) which easily meets the minimal requirement for a family of 3.

Can I simply show the 6 months statement from my salary account and the FD certificate from the other bank ? Would this be considered as a valid proof of fund ?

Thanks in Advance.

 

[StAnger]

Hello All,

Can seniors help me with this situation ?

I have my salary credited in a private bank(HDFC) and I have very less balance in the same. But I have a 2 FD in a nationalized bank(State Bank of India) which easily meets the minimal requirement for a family of 3.

Can I simply show the 6 months statement from my salary account and the FD certificate from the other bank ? Would this be considered as a valid proof of fund ?

Thanks in Advance.

Yes FD are considered as POF.

Proceed with the plan you stated above. Make you get statement stamped from bank and also request HDFC to issue you a letter which shows when your salary account was opened, average 6 months balance etc. Etc.

Get bank letters from State bank which shows details of your FD's.